union 0 Posted June 5, 2017 Share Posted June 5, 2017 I believe they do fall under internal debt and pure debt. http://www.icaew.com/-/media/corporate/files/technical/financial-reporting/factsheets/uk-gaap/new-uk-gaap/loans-from-directors-under-the-new-uk-gaap-faqs.ashx 0 Quote Link to post Share on other sites More sharing options...
colinstein 294 Posted June 5, 2017 Share Posted June 5, 2017 Hardly a surprise that there is no external 3rd party debt. The Big Tax Case rendered the Club toxic; Mr Craig Whyte increased the virulence of the venom, and Mr Charles Green a & Co merely added more poison to the mix. It took a very strong constitution, and a significant antidote, compiled from various sources, for the Club to survive this far. but survived we have 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted June 5, 2017 Share Posted June 5, 2017 Methinks he "only" holds a small majority of shares in SD these days and there has been some scorn levelled at him by other shareholders with regards how he deals with the company and them - no matter what. In any case, you wonder how much SD actually makes from the retail deal with us these days and if that doesn't change, SD folk will ask serious questions - even though Ashley walks about in business circles like Trump does in politics. Hence my question whether it would make sense to buy the retail deal out (at the current turnover rate), however unlikely that will be. The court case may take time and Ashley will probably make sure that it goes through all possible appeals, just out of spite. Ashley may only have a small majority shareholding in SD but that is of HUGE benefit to him because it basically allows him to do as he pleases with the company on day-to-day business. Only with super-majority votes would it have an impact and he has, IIRC, lost one or two of these votes recently. But it doesn't affect the daily business activities a great deal. With regards to OUR deal with them the "SD folk" wont question him much at all. We are nothing but a blip on the overall revenue streams at SD - don't believe for a minute that we are some massive organization that is critical to their business - we aren't. So those folks wont be caring a whole lot about the deal with us - their primary focus will be the core of their business, and we aren't at their core in terms of valuable retail partners. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted June 5, 2017 Share Posted June 5, 2017 No third party debt was the phrase used iirc. See, if this is what was said (no reason to doubt your memory powers FS) it is amazing how one fan will hear the exact wording yet another will use it as meaning we have no debt and then call into question the statement. If he said no third party debt then he is, from what we can tell, accurate and correct - all the debt is to the shareholders at this point. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted June 5, 2017 Share Posted June 5, 2017 I believe they do fall under internal debt and pure debt. http://www.icaew.com/-/media/corporate/files/technical/financial-reporting/factsheets/uk-gaap/new-uk-gaap/loans-from-directors-under-the-new-uk-gaap-faqs.ashx The above link is deemed irrelevant if King said what forlanssister suggests he said - internal and external debt statements are a red herring IF what he says was "No third party debt" 0 Quote Link to post Share on other sites More sharing options...
Uilleam 5,429 Posted June 5, 2017 Share Posted June 5, 2017 but survived we have Indeed. Yet some still seem to see cause for dispute and dissension. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted June 5, 2017 Share Posted June 5, 2017 See, if this is what was said (no reason to doubt your memory powers FS) it is amazing how one fan will hear the exact wording yet another will use it as meaning we have no debt and then call into question the statement. If he said no third party debt then he is, from what we can tell, accurate and correct - all the debt is to the shareholders at this point. I think we have no third party debt simply because we are have no bank overdraft facility and are unable to find any lenders. King's current predicament where he hasn't offered 20p a share means he, any company he's involved with and everyone connected with him is being "cold shouldered". I read the above on several dozen mank forums and have no experience in company law so it is possibly a complete load of guff. 0 Quote Link to post Share on other sites More sharing options...
union 0 Posted June 5, 2017 Share Posted June 5, 2017 He didn't say 3rd party, but he did say that if celtic win 10 in a row 4 of them won't count,yes he really did say that. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted June 5, 2017 Share Posted June 5, 2017 I think we have no third party debt simply because we are have no bank overdraft facility and are unable to find any lenders. King's current predicament where he hasn't offered 20p a share means he, any company he's involved with and everyone connected with him is being "cold shouldered".I read the above on several dozen mank forums and have no experience in company law so it is possibly a complete load of guff. I would be pretty sure that if King wanted debt at the club in the form of external 3rd party debt that he would have enough wealthy friends and acquaintances to be able to get some funding. I wouldn't read too much into it - the Takeover Panel stuff doesn't prevent the club from getting 3rd party debt. 0 Quote Link to post Share on other sites More sharing options...
craig 5,195 Posted June 5, 2017 Share Posted June 5, 2017 (edited) He didn't say 3rd party, but he did say that if celtic win 10 in a row 4 of them won't count,yes he really did say that. Were you in attendance where he didn't say no 3rd party debt ? Edited June 5, 2017 by craig 0 Quote Link to post Share on other sites More sharing options...
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